Target pushes back against downturn with new store-brand, value messages

MINNEAPOLIS Target is pushing back against a dismal economy and a decrease in profitability with new programs to boost its value image and pull more customers into its 1,699 upscale discount stores.

Target has unveiled a series of steps to restore its profit margins and lure customers back into its stores. In a conference call with investment analysts following release of its financial results this week, company leaders said the chain is in the process of overhauling its private-label Target brand with a new look and brand name, called “Up & Up,” now working its way through many store categories.

In addition, the chain is testing a new offer under which a handful of stores in Minnesota, Colorado and Florida will match the lowest market price for some items. The chain has also unveiled a new ad campaign that emphasizes Target’s low prices and value.

Target has also revealed plans to boost selection and store space in the grocery category, which company leaders say has been a standout performer in a down economy.